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CHINA CANCELS PATENT SUBSIDIES IN EFFORT TO BOOST China's State Intellectual Property Office issued a notice recently to radically change the country's patent policy. It seeks to transform China from focusing on the number of patents to focusing on the quality of patents, in an effort to boost true indigenous innovation. The policies include measures to cancel all patent subsidies, crack down on improper behavior to artificially increase DAILY NEWS ON CHINA'S VENTURE CAPITAL, PRIVATE EQUITY ANDDEALSTECHINDUSTRYINSIGHTSPRIVATE EQUITYVENTURE CAPITAL Primary data for China's primary markets: China Money Network delivers investment news on Chinese private equity, venture capital and tech. CHINA TECH DIGEST: KEEP PLANS $500M U.S. IPO; PONY.AI Keep plans to conduct a U.S. IPO of up to US$500 million Chinese fitness mobile app Keep, backed by SoftBank and Tencent, plans to conduct a U.S. IPO of up to US$500 million. Pony.ai approved to test autonomous vehicle in California Chinese self-driving start-up Pony.ai has obtained permission from the California Department of Motor Vehicles(DMV) to test driverless cars on designated streets CGTN:TIANHE LIFTS OFF CHINA'S SPACE STATION AMBITION Tianhe was carried into space by a Long March-5B Y2 carrier rocket from the Wenchang Spacecraft Launch Site on the coast of south China's Hainan Province.It is the first of 11 missions to build and supply the space station. Tianhe will act as the foundational module for China's first space station in low-Earth orbit named Tiangong, which means "heavenly palace" in Chinese. CHINA TECH DIGEST: SENSETIME REPORTED TO GO PUBLIC IN HK SenseTime is reported to go public in HK this year SenseTime, Chinese largest artificial intelligence company, plans to list in Hong Kong by the end of this year as soon as possible, and will continue to promote its A-share listing process. The company recently discussed its listing plan in Hong Kong with internal and external parties. The source said that SenseTime is open to listing in Hong NASDAQ-LISTED DIGINEX REPORTS RECORD DAILY TRADING VOLUME 30-Day Trading Volume Increases More Than 40% to Close to US$3 Billion; 50% Increase in EQO Token Value Since April 2021 Launch. SINGAPORE, May 24, 2021 /PRNewswire/ -- Diginex Limited (Nasdaq: EQOS), a digital assets financial services company, today announced that combined 24 hour spot and derivative volumes on its EQUOS cryptocurrency exchange reached a record-high, exceeding CHINA'S BYD PLANS TO SPIN OFF AND LIST SEMICONDUCTOR UNIT On the evening of May 11, 2021, BYD Co., Ltd. (002594.SZ) announced that the board of directors passed a resolution that the company intends to spin off its subsidiary BYD Semiconductor and to list it on the Shenzhen Stock Exchange’s Growth Enterprise Market. After the spin-off is completed, BYD will still maintain control of BYD Semiconductor, and BYD Semiconductor will remain a subsidiary HOW A CON MAN WITH PRIMARY EDUCATION DEFRAUDED BILLIONS In a rush to pump up China's chip sector, local Chinese governments and private investors took big risks to set up numerous semiconductor projects during the past several years. Hoping to become the next Chinese chip national champion, local governments were eager to team up with private investors. But sometimes, local governments and contractors fall prey to professional con men who CONVERT REVIEWS TO REWARDS WITH SINGAPORE-BASED STARTUP SINGAPORE, May 21, 2021 /PRNewswire/ -- This year, Singapore-based MarTech startup YouAdMe is reshaping the local digital marketing landscape with its upcoming eponymous social e-commerce mobile application, which will kick off through its app-wide AdvertiseSG campaign.By working with the drivers of Singapore's economy, largely small-and-medium enterprises (SMEs) and CHINA CANCELS PATENT SUBSIDIES IN EFFORT TO BOOST China's State Intellectual Property Office issued a notice recently to radically change the country's patent policy. It seeks to transform China from focusing on the number of patents to focusing on the quality of patents, in an effort to boost true indigenous innovation. The policies include measures to cancel all patent subsidies, crack down on improper behavior to artificially increase HONGKONG LAND CELEBRATES STRATEGIC MILESTONE WITH THE Mr Robert Wong, Chief Executive of Hongkong Land, said, "With more than a century of expertise and experience in developing and managing best-in-class commercial and residential properties across Asia, Hongkong Land strives for continual innovation, with fresh offerings to cater for the ever-changing needs of today's tenants and customers.Our established 'Central' series have been created to CHINA TECH DIGEST: CHINA'S THREE-CHILD POLICY WILL BENEFIT Secretary-General of CPCA: China's three-child policy will benefit auto market Cui Dongshu, secretary-general of China Passenger Car Association, said in a statement that China’s auto market is dominated by middle-aged consumers and is gradually moving towards a market dominated by elderly consumers. Therefore, China's three-child policy will make the auto market more diversified, which is a DEALSHOT: 19 DEALS TOPPING $730 MILLION INVOLVING H 23 hours ago · Katherine primarily maintains our exclusive DealShot service. Culled from thousands of online data points, our China Money AI gathers data, and then Katherine fills in the "last mile" to make sure the data is accurate for our clients who rely on this criticaldeal flow data.
CHINA TECH DIGEST: ALIBABA IS DEVELOPING SELF-DRIVING 16 hours ago · Alibaba CTO Cheng Li: Alibaba is developing self-driving truck At the 2021 Global Smart Logistics Summit, Alibaba CTO Cheng Li revealed that Alibaba is developing self-driving truck. Huawei: The goal is to make passenger cars truly driverless by 2025 At the 13th China Auto Bluebook Forum, Wang Jun, president of Huawei's Smart Car Solutions BU, stated that the team's goal is to enable THE BOOK EVERYONE NEEDS IS NOW AVAILABLE: INTRODUCING LONDON, NEW YORKand SINGAPORE, June 10, 2021 /PRNewswire/ --Now available on Amazon, Uncommon Courage, written by Andrea Edwards, founder and CEO of The Digital Conversationalist, compiles 50 years ofwisdo
CHINA TECH DIGEST: SENIOR AUTO OBTAINED DRIVERLESS ORDER Senior Auto obtained the world's first order for unmanned driving at a port Beijing-based Senior Auto and Ningbo Daxie China Merchants International Container Terminal Co., Ltd. signed the world’s first L4 level driverless truck commercial operation payment agreement. The driverless system has become one of the port’s production tools and can replace the traditional manned work to achieve PEOPLESTRONG CONTINUES TO MAKE STRIDES IN ITS GLOBAL The appointment comes as a part of PeopleStrong's 3X growth strategy to expand across global markets and will help them scale their reach &ability to
CHINA TECH DIGEST: BEIJING AI INDUSTRY ALLIANCE 1 day ago · Beijing AI Industry Alliance was established, Baidu CTO Wang Haifeng as chairman of the alliance Today, Beijing Artificial Intelligence Industry Alliance, led by Baidu Inc., was formally established, and 36 enterprises and institutions joined the alliance. By the resolution of the first session of the Alliance Council, Baidu was appointed as the chairman unit, Baidu CTO Wang Haifeng was BEIKE REALSEE COMPLETED LANDMARK AGREEMENT WITH MALAYSIA'S BEIJING, June 10, 2021 /PRNewswire/ -- On June 9th, 2021, Beike Realsee and Jalin Realty, an overseas real estate service company held a signing ceremony to mark the launch of a first-of-its-kind partnership in South-E FOSUN FASHION GROUP TO ACQUIRE ITALIAN LUXURY SHOEMAKER Fosun Fashion Group (FFG) is an international luxury fashion group and affiliate of Fosun International, one of the largest innovation-driven consumer groups worldwide Sergio Rossi brings an iconic footwear brand /C O R R E C T I O N -- LYONDELLBASELL INDUSTRIES/ In the news release, LyondellBasell Announces Startup of 400,000 KTA / year South Korean Joint Venture Facility, issued 08-Jun-2021 by LyondellBasell Industries over PR CHINA TECH DIGEST: KEEP PLANS $500M U.S. IPO; PONY.AI Keep plans to conduct a U.S. IPO of up to US$500 million Chinese fitness mobile app Keep, backed by SoftBank and Tencent, plans to conduct a U.S. IPO of up to US$500 million. Pony.ai approved to test autonomous vehicle in California Chinese self-driving start-up Pony.ai has obtained permission from the California Department of Motor Vehicles(DMV) to test driverless cars on designated streets CHINA TECH DIGEST: TSMC STARTS CONSTRUCTION AT ITS ARIZONA TSMC starts construction at its Arizona chip factory Chinese chip foundry TSMC has started construction of a new chip factory with a $12 billion investment in Phoenix, Arizona, USA. A TSMC executive also pointed out that the company plans to start mass production of next-generation 3nm chips in the second half of next year. TSMC’s investment this year will reach 30 billion U.S. dollars, and CHINA TECH DIGEST: SENSETIME REPORTED TO GO PUBLIC IN HK SenseTime is reported to go public in HK this year SenseTime, Chinese largest artificial intelligence company, plans to list in Hong Kong by the end of this year as soon as possible, and will continue to promote its A-share listing process. The company recently discussed its listing plan in Hong Kong with internal and external parties. The source said that SenseTime is open to listing in Hong VOLOCOPTER AND GEELY BRING ELECTRIC AIR TAXIS TO CHINA’S Volocopter and Geely Technology Group are presenting the full-size Volocopter 2X for the first time in China at Geely’s booth at the Auto Shanghai 2021 to show the concrete value electric air taxi services will provide. “Volocopter is the pioneer and leader of safe, sustainable, and practical eVTOL solutions for air taxi servicesin cities
CHINA TECH DIGEST: DIDI AUTONOMOUS DRIVING UNIT COOPERATES Didi's autonomous driving unit cooperates with GAC Aion Didi's autonomous driving unit announced that it has reached a strategic cooperation with GAC Aion New Energy Automobile Co., Ltd. The two parties will discuss joint venture and cooperation models in the field of smart cars, newly define and develop an unmanned new energy vehicle that can be put into large-scale applications, and HOW A CON MAN WITH PRIMARY EDUCATION DEFRAUDED BILLIONS In a rush to pump up China's chip sector, local Chinese governments and private investors took big risks to set up numerous semiconductor projects during the past several years. Hoping to become the next Chinese chip national champion, local governments were eager to team up with private investors. But sometimes, local governments and contractors fall prey to professional con men who HONGKONG LAND CELEBRATES STRATEGIC MILESTONE WITH THE Mr Robert Wong, Chief Executive of Hongkong Land, said, "With more than a century of expertise and experience in developing and managing best-in-class commercial and residential properties across Asia, Hongkong Land strives for continual innovation, with fresh offerings to cater for the ever-changing needs of today's tenants and customers.Our established 'Central' series have been created to CONVERT REVIEWS TO REWARDS WITH SINGAPORE-BASED STARTUP SINGAPORE, May 21, 2021 /PRNewswire/ -- This year, Singapore-based MarTech startup YouAdMe is reshaping the local digital marketing landscape with its upcoming eponymous social e-commerce mobile application, which will kick off through its app-wide AdvertiseSG campaign.By working with the drivers of Singapore's economy, largely small-and-medium enterprises (SMEs) and THIRD-PARTY INSURANCE PLATFORM NANYAN COMPLETES NEW ROUND China Money AI. -. January 22, 2020 — 18:58. Third-party global insurance technology platform Nanyan Group has completed a series B2 round of financing worth more than 100 million Renminbi. Bank of China International led the investment, and a number of existing shareholders also participated in the fintech investment. XIAOMI-BACKED SMART POS TERMINAL DEVELOPER SUNMI RAISES Shanghai Sunmi Technology Co., Ltd., a smart point of sale (POS) terminal developer that is in the ecosystem of Chinese smartphone maker Xiaomi Inc., has raised a series C round worth hundreds of millions of RMB from undisclosed investors. Founded in 2014, Sunmi develops both handheld and desktop smart payment devices, using Sunmi's own Android-based payment system Sunmiui. The CHINA TECH DIGEST: KEEP PLANS $500M U.S. IPO; PONY.AI Keep plans to conduct a U.S. IPO of up to US$500 million Chinese fitness mobile app Keep, backed by SoftBank and Tencent, plans to conduct a U.S. IPO of up to US$500 million. Pony.ai approved to test autonomous vehicle in California Chinese self-driving start-up Pony.ai has obtained permission from the California Department of Motor Vehicles(DMV) to test driverless cars on designated streets CHINA TECH DIGEST: TSMC STARTS CONSTRUCTION AT ITS ARIZONA TSMC starts construction at its Arizona chip factory Chinese chip foundry TSMC has started construction of a new chip factory with a $12 billion investment in Phoenix, Arizona, USA. A TSMC executive also pointed out that the company plans to start mass production of next-generation 3nm chips in the second half of next year. TSMC’s investment this year will reach 30 billion U.S. dollars, and CHINA TECH DIGEST: SENSETIME REPORTED TO GO PUBLIC IN HK SenseTime is reported to go public in HK this year SenseTime, Chinese largest artificial intelligence company, plans to list in Hong Kong by the end of this year as soon as possible, and will continue to promote its A-share listing process. The company recently discussed its listing plan in Hong Kong with internal and external parties. The source said that SenseTime is open to listing in Hong VOLOCOPTER AND GEELY BRING ELECTRIC AIR TAXIS TO CHINA’S Volocopter and Geely Technology Group are presenting the full-size Volocopter 2X for the first time in China at Geely’s booth at the Auto Shanghai 2021 to show the concrete value electric air taxi services will provide. “Volocopter is the pioneer and leader of safe, sustainable, and practical eVTOL solutions for air taxi servicesin cities
CHINA TECH DIGEST: DIDI AUTONOMOUS DRIVING UNIT COOPERATES Didi's autonomous driving unit cooperates with GAC Aion Didi's autonomous driving unit announced that it has reached a strategic cooperation with GAC Aion New Energy Automobile Co., Ltd. The two parties will discuss joint venture and cooperation models in the field of smart cars, newly define and develop an unmanned new energy vehicle that can be put into large-scale applications, and HOW A CON MAN WITH PRIMARY EDUCATION DEFRAUDED BILLIONS In a rush to pump up China's chip sector, local Chinese governments and private investors took big risks to set up numerous semiconductor projects during the past several years. Hoping to become the next Chinese chip national champion, local governments were eager to team up with private investors. But sometimes, local governments and contractors fall prey to professional con men who HONGKONG LAND CELEBRATES STRATEGIC MILESTONE WITH THE Mr Robert Wong, Chief Executive of Hongkong Land, said, "With more than a century of expertise and experience in developing and managing best-in-class commercial and residential properties across Asia, Hongkong Land strives for continual innovation, with fresh offerings to cater for the ever-changing needs of today's tenants and customers.Our established 'Central' series have been created to CONVERT REVIEWS TO REWARDS WITH SINGAPORE-BASED STARTUP SINGAPORE, May 21, 2021 /PRNewswire/ -- This year, Singapore-based MarTech startup YouAdMe is reshaping the local digital marketing landscape with its upcoming eponymous social e-commerce mobile application, which will kick off through its app-wide AdvertiseSG campaign.By working with the drivers of Singapore's economy, largely small-and-medium enterprises (SMEs) and THIRD-PARTY INSURANCE PLATFORM NANYAN COMPLETES NEW ROUND China Money AI. -. January 22, 2020 — 18:58. Third-party global insurance technology platform Nanyan Group has completed a series B2 round of financing worth more than 100 million Renminbi. Bank of China International led the investment, and a number of existing shareholders also participated in the fintech investment. XIAOMI-BACKED SMART POS TERMINAL DEVELOPER SUNMI RAISES Shanghai Sunmi Technology Co., Ltd., a smart point of sale (POS) terminal developer that is in the ecosystem of Chinese smartphone maker Xiaomi Inc., has raised a series C round worth hundreds of millions of RMB from undisclosed investors. Founded in 2014, Sunmi develops both handheld and desktop smart payment devices, using Sunmi's own Android-based payment system Sunmiui. The DEALSHOT: 15 DEALS BREAKING $220 MILLION WITH MATRIX 49 minutes ago · China Money Network's DealShot provides detailed information on venture capital and private equity deals in China on a daily basis.Here you can find out where Chinese investors have been investing their money each workday. CHINA MONEY PODCAST: HEALTH TECHNOLOGY AND ARTIFICIAL In this episode of China Money Podcast, listen to all the news headlines in the China venture investment and tech sector for the week ending June04. Deal flow was on the low side in China this week with only 63 documented fundraise closings, but we still saw some mega fundings, such as the US$200 million Series B for a Shanghai-based healthcare company and a US$190 million Series D closing for CHINA TECH DIGEST: CHINA'S THREE-CHILD POLICY WILL BENEFIT Secretary-General of CPCA: China's three-child policy will benefit auto market Cui Dongshu, secretary-general of China Passenger Car Association, said in a statement that China’s auto market is dominated by middle-aged consumers and is gradually moving towards a market dominated by elderly consumers. Therefore, China's three-child policy will make the auto market more diversified, which is a CHINA TECH DIGEST: JD HEALTH AND PFIZER CHINA LAUNCH CHILD JD Health and Pfizer China cooperate to launch whole-process child vaccine management program JD Health and Pfizer China recently announced an upgrade of their strategic cooperation and launched the 'Child Vaccine Health Whole-Process Management Program.' The two parties will deepen the popularization of pneumococcal disease, enhance the public's awareness of vaccines and disease CHINA TECH DIGEST: ALIBABA CLOUD ADDS DATA CENTERS IN 18 hours ago · Alibaba Cloud adds two new data centers in Indonesia and the Philippines Alibaba Cloud has added two new data centers in Indonesia and the Philippines, and plans to invest more than RMB6 billion to expand infrastructure and support localized ecological development within three years. According to the official introduction, the scale of Alibaba Cloud's overseas market hasincreased by
THE WORLD LOGISTICS PASSPORT (WLP) WELCOMES TEN NEW Malaysia, Kenya, Paraguay and Ecuador are the latest entrants to the World Logistics Passport New joiners follow Ethiopia, Botswana, Zimbabwe, Mozambique, Burkina Faso and Guinea who joined at thebeginning of Ju
CHINA TECH DIGEST: SENIOR AUTO OBTAINED DRIVERLESS ORDER 1 day ago · Senior Auto obtained the world's first order for unmanned driving at a port Beijing-based Senior Auto and Ningbo Daxie China Merchants International Container Terminal Co., Ltd. signed the world’s first L4 level driverless truck commercial operation payment agreement. The driverless system has become one of the port’s production tools and can replace the traditional manned work toachieve
TYAN DELIVERS AI AND CLOUD OPTIMIZED SYSTEMS BASED ON THE Discover 10-GPU Supercomputing, AI Inference, In-Memory Computing and High IOPS Cloud Platforms at the 3D Virtual Environment TAIPEI, June 7, 2021 /PRNewswire/ --TYAN®, an industry-lea AVERMEDIA LAUNCHES LIVE STREAMER NEXUS AND MIC 330, A Empowering creators to take complete control of their creative journeys and bring many possibilities to audio music in live streams. TAIPEI, June 8, 2021 /PRNewswire/ -- PRIMAVERA CAPITAL ACQUIRES GREATER CHINA BUSINESS OF MEAD BEIJING, June 6,2021 /PRNewswire/ --Primavera Capital Group ('Primavera') today announces that it has signed a definitive agreement with Reckitt Benckiser Group plc ('Reckitt'), a world' HOW A CON MAN WITH PRIMARY EDUCATION DEFRAUDED BILLIONS In a rush to pump up China's chip sector, local Chinese governments and private investors took big risks to set up numerous semiconductor projects during the past several years. Hoping to become the next Chinese chip national champion, local governments were eager to team up with private investors. But sometimes, local governments and contractors fall prey to professional con men who CHINESE VIRTUALIZATION SOLUTION PROVIDER VIRTAI TECHNOLOGYCLIENT VIRTUALIZATION SOLUTIONSDELL VIRTUALIZATION SOLUTIONSVIRTUALIZATIONSOLUTIONS
Chinese AI accelerator virtualization solution provider VirtAI Technology recently completed a pre-A round of financing of nearly US$10 million, led by Gobi Partners. Hillhouse Capital, iFlytek, as well as existing investor Yonghua Capital and Yao Song, former CEO at Chinese AI company DeePhi Tech also participated. Started in 2019, VirtAI Technology was founded by a core team with a CHINESE BIOPHARMA FIRM ADLAI NORTYE RAISES $100M IN SERIES Adlai Nortye, a Chinese clinical-stage biopharmaceutical company focusing on developing immuno-oncology medicines., has raised nearly US$100 million in a series C round financing, led by Tigermed and Yingke PE. ATCG Holdings, Shengxin Venture Capital, Puxin Ruiyuan, Hongtu No. 5 and a fund under ICBC Asset Management (Global) also participated in the round. Adlai Nortye was SMARTSENS COMPLETES ACQUISITION OF ALLCHIP "The increasing adoption of image sensors in automobiles has brought new momentum to the imaging market. According to a projection by research firm Yole Développement, the volume of camera modules in the global automobile market will exceed US$8B by 2025. Our acquisition of Allchip Microelectronics is a strategic move for SmartSens that will significantly broaden our leadership and LABOR DISPUTE SOARS AT CHINESE TECH GIANTS DRIVEN BY In recent years, Chinese Internet companies have seen a rapid rise of employee labor disputes. According to public data, there were 39,700 new labor dispute cases in 2020, up from 10,700 cases in 2016. The number of labor disputes at Chinese tech companies nearly grew by four times in the past five years. The number of dispute cases was steadily rising during the past five years. There were CHINESE SELF-DRIVING FIRM PONY.AI SECURES $400M FROM Chinese self-driving vehicle startup Pony.ai has raised US$400 million in a new funding round from Toyota Motor Corporation. The financing values Pony.ai at over US$3 billion and is one of the biggest investments secured by Chinese artificial intelligence companies during the past year as big-ticket funding deals dried up. This is an extension of the business relationship established between ANT GROUP FACES CHALLENGES IN RESTRUCTURING TO MEET Since the IPO of Ant Group was suspended and Ant's controller Jack Ma disappeared from public view for more than two months, how the Ant Group will restructure itself to meet tightened new regulatory requirements remains a mystery. On January 15, Chen Yulu, deputy governor of China's central bank, stated at a press conference that under the guidance of the financial management department, CHINA CRACKS DOWN ON MALICIOUS LENDING AND WEB CRAWLERS The Chinese government is cracking down on malicious online lending and web srawlers who illegally collect user data. The data is used by online lenders to issue malicious usurious loans to undiscerning consumers. A number of big data fintech startups have been implicated in the iinvestigations, including Beijing-based Tongdun Technology backed by Temasek Holdings and GGV BAIDU, CHINA LIFE TO LAUNCH $1B INTERNET, AI FUND Chinese Internet giant Baidu Inc. and China Life Insurance Co., Ltd will launch a RMB7 billion (US$1 billion) private equity fund targeting investment opportunities in the Internet, artificial intelligence, online finance and mobility sectors. While China Life will contribute most of the money, the fund will be named Baidu Fund Partnership, likely in recognition of that company's high-profile XIAOMI-BACKED SMART POS TERMINAL DEVELOPER SUNMI RAISES Shanghai Sunmi Technology Co., Ltd., a smart point of sale (POS) terminal developer that is in the ecosystem of Chinese smartphone maker Xiaomi Inc., has raised a series C round worth hundreds of millions of RMB from undisclosed investors. Founded in 2014, Sunmi develops both handheld and desktop smart payment devices, using Sunmi's own Android-based payment system Sunmiui. The HOW A CON MAN WITH PRIMARY EDUCATION DEFRAUDED BILLIONS In a rush to pump up China's chip sector, local Chinese governments and private investors took big risks to set up numerous semiconductor projects during the past several years. Hoping to become the next Chinese chip national champion, local governments were eager to team up with private investors. But sometimes, local governments and contractors fall prey to professional con men who CHINESE VIRTUALIZATION SOLUTION PROVIDER VIRTAI TECHNOLOGYCLIENT VIRTUALIZATION SOLUTIONSDELL VIRTUALIZATION SOLUTIONSVIRTUALIZATIONSOLUTIONS
Chinese AI accelerator virtualization solution provider VirtAI Technology recently completed a pre-A round of financing of nearly US$10 million, led by Gobi Partners. Hillhouse Capital, iFlytek, as well as existing investor Yonghua Capital and Yao Song, former CEO at Chinese AI company DeePhi Tech also participated. Started in 2019, VirtAI Technology was founded by a core team with a CHINESE BIOPHARMA FIRM ADLAI NORTYE RAISES $100M IN SERIES Adlai Nortye, a Chinese clinical-stage biopharmaceutical company focusing on developing immuno-oncology medicines., has raised nearly US$100 million in a series C round financing, led by Tigermed and Yingke PE. ATCG Holdings, Shengxin Venture Capital, Puxin Ruiyuan, Hongtu No. 5 and a fund under ICBC Asset Management (Global) also participated in the round. Adlai Nortye was SMARTSENS COMPLETES ACQUISITION OF ALLCHIP "The increasing adoption of image sensors in automobiles has brought new momentum to the imaging market. According to a projection by research firm Yole Développement, the volume of camera modules in the global automobile market will exceed US$8B by 2025. Our acquisition of Allchip Microelectronics is a strategic move for SmartSens that will significantly broaden our leadership and LABOR DISPUTE SOARS AT CHINESE TECH GIANTS DRIVEN BY In recent years, Chinese Internet companies have seen a rapid rise of employee labor disputes. According to public data, there were 39,700 new labor dispute cases in 2020, up from 10,700 cases in 2016. The number of labor disputes at Chinese tech companies nearly grew by four times in the past five years. The number of dispute cases was steadily rising during the past five years. There were CHINESE SELF-DRIVING FIRM PONY.AI SECURES $400M FROM Chinese self-driving vehicle startup Pony.ai has raised US$400 million in a new funding round from Toyota Motor Corporation. The financing values Pony.ai at over US$3 billion and is one of the biggest investments secured by Chinese artificial intelligence companies during the past year as big-ticket funding deals dried up. This is an extension of the business relationship established between ANT GROUP FACES CHALLENGES IN RESTRUCTURING TO MEET Since the IPO of Ant Group was suspended and Ant's controller Jack Ma disappeared from public view for more than two months, how the Ant Group will restructure itself to meet tightened new regulatory requirements remains a mystery. On January 15, Chen Yulu, deputy governor of China's central bank, stated at a press conference that under the guidance of the financial management department, CHINA CRACKS DOWN ON MALICIOUS LENDING AND WEB CRAWLERS The Chinese government is cracking down on malicious online lending and web srawlers who illegally collect user data. The data is used by online lenders to issue malicious usurious loans to undiscerning consumers. A number of big data fintech startups have been implicated in the iinvestigations, including Beijing-based Tongdun Technology backed by Temasek Holdings and GGV BAIDU, CHINA LIFE TO LAUNCH $1B INTERNET, AI FUND Chinese Internet giant Baidu Inc. and China Life Insurance Co., Ltd will launch a RMB7 billion (US$1 billion) private equity fund targeting investment opportunities in the Internet, artificial intelligence, online finance and mobility sectors. While China Life will contribute most of the money, the fund will be named Baidu Fund Partnership, likely in recognition of that company's high-profile XIAOMI-BACKED SMART POS TERMINAL DEVELOPER SUNMI RAISES Shanghai Sunmi Technology Co., Ltd., a smart point of sale (POS) terminal developer that is in the ecosystem of Chinese smartphone maker Xiaomi Inc., has raised a series C round worth hundreds of millions of RMB from undisclosed investors. Founded in 2014, Sunmi develops both handheld and desktop smart payment devices, using Sunmi's own Android-based payment system Sunmiui. The DEALSHOT: 17 DEALS ECLIPSING $790 MILLION COUNTING GL 12 hours ago · China Money Network's DealShot provides detailed information on venture capital and private equity deals in China on a daily basis.Here you can find out where Chinese investors have been investing their money each workday. CHINA MONEY PODCAST: HEALTH TECHNOLOGY AND ARTIFICIAL In this episode of China Money Podcast, listen to all the news headlines in the China venture investment and tech sector for the week ending June04. Deal flow was on the low side in China this week with only 63 documented fundraise closings, but we still saw some mega fundings, such as the US$200 million Series B for a Shanghai-based healthcare company and a US$190 million Series D closing for THE WORLD LOGISTICS PASSPORT (WLP) WELCOMES TEN NEW Malaysia, Kenya, Paraguay and Ecuador are the latest entrants to the World Logistics Passport New joiners follow Ethiopia, Botswana, Zimbabwe, Mozambique, Burkina Faso and Guinea who joined at thebeginning of Ju
CHINA TECH DIGEST: CAINIAO PROVIDES LOGISTICS SERVICES FOR Cainiao provides cross-border logistics services for Korean merchants Cainiao announced that it has signed a cooperation agreement with the Korea Small and Medium-sized Enterprise Promotion Corporation, becoming the official logistics partner for the export business of Korean small and medium-sized enterprises. Last year, Cainiao officially launched a two-way logistics service covering import AVERMEDIA LAUNCHES LIVE STREAMER NEXUS AND MIC 330, A Empowering creators to take complete control of their creative journeys and bring many possibilities to audio music in live streams. TAIPEI, June 8, 2021 /PRNewswire/ -- TYAN DELIVERS AI AND CLOUD OPTIMIZED SYSTEMS BASED ON THE Discover 10-GPU Supercomputing, AI Inference, In-Memory Computing and High IOPS Cloud Platforms at the 3D Virtual Environment TAIPEI, June 7, 2021 /PRNewswire/ --TYAN®, an industry-lea CHINA TECH DIGEST: SENIOR AUTO OBTAINED DRIVERLESS ORDER 1 day ago · Senior Auto obtained the world's first order for unmanned driving at a port Beijing-based Senior Auto and Ningbo Daxie China Merchants International Container Terminal Co., Ltd. signed the world’s first L4 level driverless truck commercial operation payment agreement. The driverless system has become one of the port’s production tools and can replace the traditional manned work toachieve
MOMO ANNOUNCES UNAUDITED FINANCIAL RESULTS FOR THE FIRST BEIJING, June 8, 2021 /PRNewswire/ -- Momo Inc. (NASDAQ: MOMO) ('Momo' or the 'Company'), a leading mobile social and entertainment platform in China, today announced its unaudited financial results CHINA TECH DIGEST: TSMC STARTS CONSTRUCTION AT ITS ARIZONA TSMC starts construction at its Arizona chip factory Chinese chip foundry TSMC has started construction of a new chip factory with a $12 billion investment in Phoenix, Arizona, USA. A TSMC executive also pointed out that the company plans to start mass production of next-generation 3nm chips in the second half of next year. TSMC’s investment this year will reach 30 billion U.S. dollars, and CHINA TECH DIGEST: JD HEALTH AND PFIZER CHINA LAUNCH CHILD JD Health and Pfizer China cooperate to launch whole-process child vaccine management program JD Health and Pfizer China recently announced an upgrade of their strategic cooperation and launched the 'Child Vaccine Health Whole-Process Management Program.' The two parties will deepen the popularization of pneumococcal disease, enhance the public's awareness of vaccines and disease CHINA TECH DIGEST: KEEP PLANS $500M U.S. IPO; PONY.AI Keep plans to conduct a U.S. IPO of up to US$500 million Chinese fitness mobile app Keep, backed by SoftBank and Tencent, plans to conduct a U.S. IPO of up to US$500 million. Pony.ai approved to test autonomous vehicle in California Chinese self-driving start-up Pony.ai has obtained permission from the California Department of Motor Vehicles(DMV) to test driverless cars on designated streets HOW A CON MAN WITH PRIMARY EDUCATION DEFRAUDED BILLIONS In a rush to pump up China's chip sector, local Chinese governments and private investors took big risks to set up numerous semiconductor projects during the past several years. Hoping to become the next Chinese chip national champion, local governments were eager to team up with private investors. But sometimes, local governments and contractors fall prey to professional con men who CHINESE VIRTUALIZATION SOLUTION PROVIDER VIRTAI TECHNOLOGYCLIENT VIRTUALIZATION SOLUTIONSDELL VIRTUALIZATION SOLUTIONSVIRTUALIZATIONSOLUTIONS
Chinese AI accelerator virtualization solution provider VirtAI Technology recently completed a pre-A round of financing of nearly US$10 million, led by Gobi Partners. Hillhouse Capital, iFlytek, as well as existing investor Yonghua Capital and Yao Song, former CEO at Chinese AI company DeePhi Tech also participated. Started in 2019, VirtAI Technology was founded by a core team with a CHINESE BIOPHARMA FIRM ADLAI NORTYE RAISES $100M IN SERIES Adlai Nortye, a Chinese clinical-stage biopharmaceutical company focusing on developing immuno-oncology medicines., has raised nearly US$100 million in a series C round financing, led by Tigermed and Yingke PE. ATCG Holdings, Shengxin Venture Capital, Puxin Ruiyuan, Hongtu No. 5 and a fund under ICBC Asset Management (Global) also participated in the round. Adlai Nortye was SMARTSENS COMPLETES ACQUISITION OF ALLCHIP "The increasing adoption of image sensors in automobiles has brought new momentum to the imaging market. According to a projection by research firm Yole Développement, the volume of camera modules in the global automobile market will exceed US$8B by 2025. Our acquisition of Allchip Microelectronics is a strategic move for SmartSens that will significantly broaden our leadership and CHINESE SELF-DRIVING FIRM PONY.AI SECURES $400M FROM Chinese self-driving vehicle startup Pony.ai has raised US$400 million in a new funding round from Toyota Motor Corporation. The financing values Pony.ai at over US$3 billion and is one of the biggest investments secured by Chinese artificial intelligence companies during the past year as big-ticket funding deals dried up. This is an extension of the business relationship established between LABOR DISPUTE SOARS AT CHINESE TECH GIANTS DRIVEN BY In recent years, Chinese Internet companies have seen a rapid rise of employee labor disputes. According to public data, there were 39,700 new labor dispute cases in 2020, up from 10,700 cases in 2016. The number of labor disputes at Chinese tech companies nearly grew by four times in the past five years. The number of dispute cases was steadily rising during the past five years. There were CHINA CRACKS DOWN ON MALICIOUS LENDING AND WEB CRAWLERS The Chinese government is cracking down on malicious online lending and web srawlers who illegally collect user data. The data is used by online lenders to issue malicious usurious loans to undiscerning consumers. A number of big data fintech startups have been implicated in the iinvestigations, including Beijing-based Tongdun Technology backed by Temasek Holdings and GGV BAIDU, CHINA LIFE TO LAUNCH $1B INTERNET, AI FUND Chinese Internet giant Baidu Inc. and China Life Insurance Co., Ltd will launch a RMB7 billion (US$1 billion) private equity fund targeting investment opportunities in the Internet, artificial intelligence, online finance and mobility sectors. While China Life will contribute most of the money, the fund will be named Baidu Fund Partnership, likely in recognition of that company's high-profile XIAOMI-BACKED SMART POS TERMINAL DEVELOPER SUNMI RAISES Shanghai Sunmi Technology Co., Ltd., a smart point of sale (POS) terminal developer that is in the ecosystem of Chinese smartphone maker Xiaomi Inc., has raised a series C round worth hundreds of millions of RMB from undisclosed investors. Founded in 2014, Sunmi develops both handheld and desktop smart payment devices, using Sunmi's own Android-based payment system Sunmiui. The CHINA TECH DIGEST: KEEP PLANS $500M U.S. IPO; PONY.AI Keep plans to conduct a U.S. IPO of up to US$500 million Chinese fitness mobile app Keep, backed by SoftBank and Tencent, plans to conduct a U.S. IPO of up to US$500 million. Pony.ai approved to test autonomous vehicle in California Chinese self-driving start-up Pony.ai has obtained permission from the California Department of Motor Vehicles(DMV) to test driverless cars on designated streets HOW A CON MAN WITH PRIMARY EDUCATION DEFRAUDED BILLIONS In a rush to pump up China's chip sector, local Chinese governments and private investors took big risks to set up numerous semiconductor projects during the past several years. Hoping to become the next Chinese chip national champion, local governments were eager to team up with private investors. But sometimes, local governments and contractors fall prey to professional con men who CHINESE VIRTUALIZATION SOLUTION PROVIDER VIRTAI TECHNOLOGYCLIENT VIRTUALIZATION SOLUTIONSDELL VIRTUALIZATION SOLUTIONSVIRTUALIZATIONSOLUTIONS
Chinese AI accelerator virtualization solution provider VirtAI Technology recently completed a pre-A round of financing of nearly US$10 million, led by Gobi Partners. Hillhouse Capital, iFlytek, as well as existing investor Yonghua Capital and Yao Song, former CEO at Chinese AI company DeePhi Tech also participated. Started in 2019, VirtAI Technology was founded by a core team with a CHINESE BIOPHARMA FIRM ADLAI NORTYE RAISES $100M IN SERIES Adlai Nortye, a Chinese clinical-stage biopharmaceutical company focusing on developing immuno-oncology medicines., has raised nearly US$100 million in a series C round financing, led by Tigermed and Yingke PE. ATCG Holdings, Shengxin Venture Capital, Puxin Ruiyuan, Hongtu No. 5 and a fund under ICBC Asset Management (Global) also participated in the round. Adlai Nortye was SMARTSENS COMPLETES ACQUISITION OF ALLCHIP "The increasing adoption of image sensors in automobiles has brought new momentum to the imaging market. According to a projection by research firm Yole Développement, the volume of camera modules in the global automobile market will exceed US$8B by 2025. Our acquisition of Allchip Microelectronics is a strategic move for SmartSens that will significantly broaden our leadership and CHINESE SELF-DRIVING FIRM PONY.AI SECURES $400M FROM Chinese self-driving vehicle startup Pony.ai has raised US$400 million in a new funding round from Toyota Motor Corporation. The financing values Pony.ai at over US$3 billion and is one of the biggest investments secured by Chinese artificial intelligence companies during the past year as big-ticket funding deals dried up. This is an extension of the business relationship established between LABOR DISPUTE SOARS AT CHINESE TECH GIANTS DRIVEN BY In recent years, Chinese Internet companies have seen a rapid rise of employee labor disputes. According to public data, there were 39,700 new labor dispute cases in 2020, up from 10,700 cases in 2016. The number of labor disputes at Chinese tech companies nearly grew by four times in the past five years. The number of dispute cases was steadily rising during the past five years. There were CHINA CRACKS DOWN ON MALICIOUS LENDING AND WEB CRAWLERS The Chinese government is cracking down on malicious online lending and web srawlers who illegally collect user data. The data is used by online lenders to issue malicious usurious loans to undiscerning consumers. A number of big data fintech startups have been implicated in the iinvestigations, including Beijing-based Tongdun Technology backed by Temasek Holdings and GGV BAIDU, CHINA LIFE TO LAUNCH $1B INTERNET, AI FUND Chinese Internet giant Baidu Inc. and China Life Insurance Co., Ltd will launch a RMB7 billion (US$1 billion) private equity fund targeting investment opportunities in the Internet, artificial intelligence, online finance and mobility sectors. While China Life will contribute most of the money, the fund will be named Baidu Fund Partnership, likely in recognition of that company's high-profile XIAOMI-BACKED SMART POS TERMINAL DEVELOPER SUNMI RAISES Shanghai Sunmi Technology Co., Ltd., a smart point of sale (POS) terminal developer that is in the ecosystem of Chinese smartphone maker Xiaomi Inc., has raised a series C round worth hundreds of millions of RMB from undisclosed investors. Founded in 2014, Sunmi develops both handheld and desktop smart payment devices, using Sunmi's own Android-based payment system Sunmiui. The CHINA MONEY PODCAST: HEALTH TECHNOLOGY AND ARTIFICIAL In this episode of China Money Podcast, listen to all the news headlines in the China venture investment and tech sector for the week ending June04. Deal flow was on the low side in China this week with only 63 documented fundraise closings, but we still saw some mega fundings, such as the US$200 million Series B for a Shanghai-based healthcare company and a US$190 million Series D closing for CHINA TECH DIGEST: CAINIAO PROVIDES LOGISTICS SERVICES FOR Cainiao provides cross-border logistics services for Korean merchants Cainiao announced that it has signed a cooperation agreement with the Korea Small and Medium-sized Enterprise Promotion Corporation, becoming the official logistics partner for the export business of Korean small and medium-sized enterprises. Last year, Cainiao officially launched a two-way logistics service covering import CHINA TECH DIGEST: SENIOR AUTO OBTAINED DRIVERLESS ORDER 12 hours ago · Senior Auto obtained the world's first order for unmanned driving at a port Beijing-based Senior Auto and Ningbo Daxie China Merchants International Container Terminal Co., Ltd. signed the world’s first L4 level driverless truck commercial operation payment agreement. The driverless system has become one of the port’s production tools and can replace the traditional manned work toachieve
CHINA TECH DIGEST: TSMC STARTS CONSTRUCTION AT ITS ARIZONA TSMC starts construction at its Arizona chip factory Chinese chip foundry TSMC has started construction of a new chip factory with a $12 billion investment in Phoenix, Arizona, USA. A TSMC executive also pointed out that the company plans to start mass production of next-generation 3nm chips in the second half of next year. TSMC’s investment this year will reach 30 billion U.S. dollars, and INDIA'S LARGEST BANK SBI INVESTS IN LEADING DIGITAL BANGALORE , India, June 7, 2021 /PRNewswire/ -- Cashfree, India's leading digital payments and banking technology company, todayannounced that
TYAN DELIVERS AI AND CLOUD OPTIMIZED SYSTEMS BASED ON THE Discover 10-GPU Supercomputing, AI Inference, In-Memory Computing and High IOPS Cloud Platforms at the 3D Virtual Environment TAIPEI, June 7, 2021 /PRNewswire/ --TYAN®, an industry-lea CHINA TECH DIGEST: JD HEALTH AND PFIZER CHINA LAUNCH CHILD JD Health and Pfizer China cooperate to launch whole-process child vaccine management program JD Health and Pfizer China recently announced an upgrade of their strategic cooperation and launched the 'Child Vaccine Health Whole-Process Management Program.' The two parties will deepen the popularization of pneumococcal disease, enhance the public's awareness of vaccines and disease ADVACCINE ANNOUNCES FIRST PARTICIPANTS DOSED IN PHASE 2 SUZHOU, China, June 4, 2021 /PRNewswire/ -- Advaccine Biopharmaceuticals('Advaccine') announces that the first participants have been successfully dosed in HUAWEI ACHIEVES THE WORLD'S MOST RIGOROUS ENERGY STORAGE SHANGHAI, June 4, 2021 /PRNewswire/ -- At SNEC 2021, Huawei's smart string energy storage system (ESS) for residential use, the LUNA2000, received 2PfG 2511 and VDE-AR-E 2510-50 certificates from TUVRheinland, a Germa
QUERYPIE, THE DATA GOVERNANCE PLATFORM, BECOMES OKTA SEOUL, South Korea, June 4, 2021 /PRNewswire/ --QueryPie, the data governance platform, now has verified integration with Okta and is available through the__
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